- Warren has released her plan to tackle climate change and usher in a green revolution.
- The plan is estimated to cost $10.7 trillion and create 10.6 million jobs, which is more than $1 million for each new job created.
- The Senator hopes the plan gives her a boost going into 2020.
Sen. Elizabeth Warren unveiled her plans for a Green New Deal on Friday.
Her strategy, designed to reduce carbon emissions and “defeat the climate crisis,” involves rebuilding the U.S. economy “with 100% clean energy” and creating 10.6 million jobs in the process.
But the price tag on her plan – a staggering $10.7 trillion – is eye-watering.
How is the Deal Funded?
Warren says a “new green bank” will help pay for her plan.
This bank will purportedly “open up new markets for greater investment” and expedite the substitution of fossil-fuel-based technologies with clean energy technologies.
Warren has also proposed issuing “Green Victory Bonds.” Pointing to the success of victory bonds during World War II, she claims these new bonds will allow Americans “to own a piece of the climate solution.”
$10.7 Trillion for 10.6 Million New Jobs
$10.7 trillion is a lot of money, especially when current U.S. debt is already more than $23 trillion.
But also, $10.7 trillion for 10.6 million jobs results in more than $1 million for each job created. And if you think that’s expensive, you’re not alone.
According to David Robalino, Manager of the Jobs Cross-Cutting Group, it costs the average coffee-shop in the U.S. between $25,000 to $35,000 to employ someone.
Of course, Warren’s Green New Deal isn’t intended to spur a revolution for baristas and servers. Her plan proposes expanding job training for skilled laborers and creating new union jobs for “large construction and engineering projects.”
But still, $1 million for each new job is still expensive. Consider research conducted by Robalino that looked at how many jobs were created…